A new listing offering value, growth, and yield
The Company is the dominant player (6% share) in a highly fragmented industry which presents them with a great opportunity to leverage their skill base and become an industry consolidator. With a solid track record for delivering growth and a management team which have a substantial equity holding in the company, MTO is expected to deliver mid-single digit organic growth from existing operations with further growth from future acquisitions. Currently trading on a 1-year forward multiple of 14.5x with a 4.3% yield, we believe this represents good value, given the strong outlook for the business.
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Mark is a Co-Founder and Executive Director of K2 Asset Management. He is also the Joint-CIO for the K2 investment funds and focuses on the portfolio management of the Asian equity strategy.